Natural Gas Storage Report - Sept 10

[dan_s]

Working gas in storage was 3,261 Bcf as of Friday, September 4, 2015, according to EIA estimates. This represents a net increase of 68 Bcf from the previous week. Stocks were 473 Bcf higher than last year at this time and 127 Bcf above the 5-year average of 3,134 Bcf.

U.S. natural gas storage capacity is approximately 4,500 Bcf. We need around 4,000 Bcf in storage before winter weather arrives.

This will be a "Super El Nino" winter, which means the Southeast will see a colder than normal winter with a lot more snow. The Big Snows normally happen in February & March. New York could also get hammered by a major snow storm or two this winter. The very top of the nation (upper half of Minn and Wis) should have a rather mild winter. Remember that "mild" for them is still very cold. The big cities along the Great Lakes should see normal temps, but should miss most of the big snow storms.

El Nino conditions pump a lot of moisture into the southern jet stream. For those of you living in Texas, you may have noticed that we have been getting a lot more rain this summer.

Dr. Joe Bastardi has issued his "official winter forecast": http://www.weatherbell.com/public-winter-15-16-forecast

You should all listen to Joe's weekend updates. Winter weather has a lot to do with energy demand in the U.S. + big snow storms can cause production shut-ins.